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Vermillion Reports Second Quarter 2014 Results
Date:8/14/2014

AUSTIN, Texas, Aug. 14, 2014 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a multivariate diagnostics company focused on gynecologic cancers and women's health, reported on its results for the quarter ended June 30, 2014.

Q2 2014 Key Developments

  • Opened ASPiRA LABS, Inc., a CLIA certified clinical laboratory which specializes in applying biomarker-based technologies that address critical needs in the management of gynecologic cancers, on June 23, 2014. ASPiRA LABS provides OVA1® diagnostic testing and results using a state-of-the-art biomarker-based diagnostic algorithm that aids in clinical decision making and advances personalized treatment plans as well as Longitudinal CA125 results.
  • Appointed Dr. Judith K. Wolf to the new position of Chief Medical Officer, effective September 15, 2014. Dr. Wolf is a highly accomplished, widely published and active professional in the field of gynecologic cancer. She currently serves as the Division Chief of Surgical Oncology and Vice Chair of the Department of Oncology Services at the Banner MD Anderson Cancer Center in Arizona.
  • Presented information on ASPiRA LABS at the American Association of Clinical Chemistry's (AACC) annual meeting on July 31, 2014. Michael Randell, M.D. and Herbert Fritsche, Ph.D. discussed ASPiRA LABS and the clinical utility of incorporating OVA1® into the management of patients with ovarian adnexal masses, who are planned for surgery.

    • Q2 2014 Financial Results
    Total revenue in the second quarter of 2014 was $324,000, as compared to $323,000 in the same year-ago period. Second quarter 2014 revenue was comprised of $211,000 in OVA1 product revenue and $113,000 in license revenue.

    The product revenue in the second quarter of 2014 was derived from 4,223 OVA1 tests performed at the fixed $50 per test. This was consistent with the 4,184 OVA1 tests performed
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